NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Investors and investment advisors are invited to listen to Flaherty & Crumrine Incorporated, the portfolio manager of Flaherty & Crumrine Investment Grade Fixed Income Fund (the "Fund") (TSX:FFI.UN), provide an update on US fiscal and monetary policy, interest rates and the preferred securities market. A link to the replay of the call recorded September 30, 2014, has been posted to the Brompton Funds website at www.bromptongroup.com/funds/fund/ffi/overview.

The Fund has generated an annual compound return of 19.2% for the 5 years ending September 30, 2014, significantly outperforming its benchmarks. For the nine months ended September 30, 2014, the Fund has achieved a compound total return of 16.5% and has earned income in excess of its distributions paid. Assuming the Fund continues to earn income at the same rate in the fourth quarter as it has up to September 30, the Fund expects to pay a special year end income distribution of approximately $0.10 to $0.18 per unit payable in a combination of cash and units. Unit distributions will be automatically consolidated so that unitholders will hold the same number of units after the distributions as they held before it. The special year end distribution will be formally announced in December 2014.

Special year-end distributions were paid by the Fund in 2011, 2012 and 2013, as income also exceeded regular annual distributions during those years. The Fund has paid out $12.07 in cash distributions since inception through to September 30, 2014.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other eligible alternative market (an "exchange"). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.